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Poonawalla Fincorp AUM grows 17% to Rs 16,575 crore in FY22

Poonawalla Fincorp Ltd's assets under management (AUM) rose by 17 per cent to Rs 16,575 crore in the financial year ended March 2022 (FY22). This was the first full financial year after Poonwalla group acquired ownership of the erstwhile Magma Fincorp Ltd second half of Fy21.

Sequentially, it rose by nine per cent over AUM at the end of December 2021. The finance company has set a target of having AUM of about Rs 45,000 crore by 2025.

Tata Steel output falls 3% to 7.57 MT in Q4; sales jump 4% to 7.82 MT

Tata Steel on Tuesday said its consolidated steel output stood at 7.57 million tonnes (MT) for the quarter ended March 31, 2022, registering a year-onyear fall of about 3 per cent.

The company had produced 7.80 MT of steel during the January-March quarter of financial year (FY) 2020-21, Tata Steel said in a statement. Its total sales, however, rose by over 4 per cent to 7.82 MT in the fourth quarter, from 7.51 MT in the year-ago period.

Zoom opens technology centre in Chennai; second in the country

Zoom Video Communications on Tuesday said its Indian entity ZVC India has set up its technology centre the first such facility in Tamil Nadu and second in the country. The Chennai Technology Centre was part of Zoom's expansion plans and would supplement the existing unit in Bengaluru. The company has two data centres in Mumbai and Hyderabad, a company statement said.

Bandhan Bank's overall collection efficiency ratio stands at 96%

The overall collection efficiency ratio (CER) of private lender Bandhan Bank stood at 96 per cent at the end of financial year 2021-22, against 93 per cent in the preceding third quarter, the bank said in a statement on Tuesday. Loans and advances of the bank grew 16 per cent year-on-year at Rs 1,01,359 crore at the end of March 31, 2022, while its total deposits increased to Rs 96,331 crore year-on-year at the end of last quarter on 2021- 22.

Wipro will continue to invest in Telangana, says Azim Premji

Wipro will continue to invest in Telangana as the state government here is progressive, Founder-Chairman of Wipro Group, Azim Premji, said on Tuesday.

"Wipro will continue to invest here because we find the state government to be very progressive," he said at the inauguration of a manufacturing facility of Wipro Consumer Care & Lighting in Hyderabad.

Nazara Technologies invests $2.5 mn in US-based Bitkraft Ventures

Gaming and sports media firms Nazara Technologies announced an investment of $2.5 million in the US based game fund Bitkraft Ventures. Of the $2.5 million in upto $0.875 million will be invested upfront, while the balance investment amount of $1.625 million will be deployed over a period of three years, said the company in a regulatory filing on the BSE.

Bitkraft Ventures is a leading investment platform for gaming and Web3 / blockchain projects globally. Nazara, with the above proposed investment, aims to build a network with Limited Partners (“LP”) as well as the investee companies to gain accessinto the global gaming ecosystem

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